{"id":107347,"date":"2025-09-10T00:00:00","date_gmt":"2025-09-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adgm-sets-out-frt-rule-changes\/"},"modified":"2025-09-10T00:00:00","modified_gmt":"2025-09-10T00:00:00","slug":"adgm-sets-out-frt-rule-changes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/09\/10\/adgm-sets-out-frt-rule-changes\/","title":{"rendered":"ADGM sets out FRT rule changes"},"content":{"rendered":"

ADGM pr<\/strong>oposes new rules for fiat-referenced tokens: <\/strong>ADGM\u2019s Financial Services Regulatory Authority (FSRA) launched a new consultation paper (pdf)<\/a> proposing a regulatory framework to govern activities involving fiat-referenced tokens (FRTs) \u2014 a type of stablecoin pegged to fiat currency. The consultation is open for feedback until Tuesday, 7 October.<\/p>\n

Acceptance criteria: <\/strong>The FSRA would maintain a list of accepted FRTs, automatically approving those issued in ADGM and assessing foreign FRTs against reserve adequacy, compliance with the correct FRT definition, anti-money laundering traceability, and regulatory oversight in the issuer\u2019s home jurisdiction. It is also proposing to include CBUAE-approved, AED-denominated stablecoins in the accepted FRT list.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

REMEMBER-<\/strong> ADGM has so far accepted one domestic FRT, Paxos Lift USD (USDL)<\/a>, in addition to foreign-issued stablecoins USDC, USDP, and USDT. In December, FSRA introduced a framework<\/a> for FRT issuance, defining the tokens and their use as payment instruments.<\/p>\n

Expanded scope: <\/strong>The new rules would bring FRT activities into scope for those providing custody and payment services. They also introduce a new, regulated category; FRT intermediation. FRT custodians would fall under safe custody rules, while payment providers using FRTs for transactions would need to secure a payment service provider (PSP) license. Fiat intermediaries \u2014 which buy and sell FRTs as a business but aren\u2019t PSPs \u2014 with a USD 50k base capital requirement would be regulated under Category 4 requirements. <\/p>\n

IN OTHER REGULATION NEWS- <\/p>\n

GPSSA extends payment window for merging service periods: <\/strong>The General Pension and Social Security Authority (GPSSA) will now give insured individuals up to 10 years \u2014 instead of four \u2014 to pay for merging service periods, effective this month, state news agency Wam<\/a> reports. The rollout will happen in two phases, with active requests addressed first and new applications accepted from November.<\/p>\n","protected":false},"excerpt":{"rendered":"

The proposed framework outlines acceptance criteria and broadens the scope of stablecoin activities under regulation<\/p>\n","protected":false},"author":1,"featured_media":107348,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1561],"tags":[489,107,7,299,160],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-107347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-watch","tag-adgm","tag-crypto","tag-enterpriseam-uae","tag-financial-services-regulatory-authority","tag-regulation-watch","wpautop","entry"],"acf":{"mongo_id":"210950ea-0e23-4ca7-b7b6-e78f1e64e51f","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2510.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ADGM launches consultation on new regulatory framework for fiat-referenced tokens","related_issue":[107334],"teaser":"The proposed framework outlines acceptance criteria and broadens the scope of stablecoin activities under regulation","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.09228391-b2d6-482d-a8f5-9087df7cf0fd.mp3"},"yoast_head":"\nADGM sets out FRT rule changes - 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